7th May 2008

Capital increase in the NLB

Existing shareholders subscribe 471,696 shares in the first tranche

In the first tranche of capital increase of the NLB, shares were offered to the existing shareholders of the Bank which subscribed and paid 471,696 NLB shares in 14 calendar days, namely from 17 April to 30 April. This means that 426,508 shares will be available to the general public in the second tranche starting on 9 May. NLB shares will be subscribed in 61 branches all over Slovenia.

The unlimited public offering will be carried out from 9 May to 1 p.m. on 29 May and the possibility to subscribe shares will be given to domestic and foreign retail and corporate clients. The selling price of one new share is 334 euro, which is 2.15-times the consolidated book value as at 31 March 2008, taking into account the capital increase. Each investor will only be allowed to subscribe shares once, namely up to 250 shares (in total value of up to 83,500 euro).

NLB shares will be subscribed in 61 branches all over Slovenia

NLB shares will be subscribed in 61 NLB branches in 42 towns all over Slovenia, of which 18 in Ljubljana, three in Maribor and further 40 in other major Slovene towns. Shares will be subscribed during the regular working hours of these branches, except for the last working day of the offering, when shares may be subscribed only until 1 p.m. To subscribe shares, a retail client will need the following: valid ID (personal ID card or passport), tax number and account number to which the NLB will return money in the event of surplus subscription. Shares must be paid in on the next working day of subscription, with the exception of those subscribed on the last day. These must be paid in until the end of business day.

In the event of surplus subscription, the principle of guaranteed shares shall be applied. If there are more than 383,857 subscribers, there will be no guaranteed shares and they shall be divided proportionally, depending of the paid in amount. If the number of subscribers is between 193,867 and 383,856, each of them will get one guaranteed share. If the number of subscribers is between 69,934 and 193,866, each of them will get two guaranteed shares. If there are fewer than 96,933 subscribers, each of them will get three guaranteed shares. Any excess amounts of non-allocated shares will be distributed proportionally, depending of the paid in amount, in the above three cases. Potential excess payments in the event of surplus subscription will be returned within 15 days after the closing of the offering.

Any shares not subscribed and paid by the public in the second trance will be offered exclusively to well-informed investors in the third tranche which will take place between 10 June and 16 June 2008 (until 1 p.m.) according to Article 44, item 1 of the Market in Financial Instruments Act.

More information available on the Bank's websites and in the special brochure in the branches

More information about the public offering of newly issued shares (Prospectus, Summarised Prospectus, FAQs, list of necessary documents and sample authorisation) is available to interested parties on the website of the NLB . There is also a special brochure available in the branches for all interested parties.

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